Company cars in decline, according to official figures

THE number of company cars on Britain’s roads has dropped below one million, according to latest data from HM Revenue & Customs.

 

Official figures reveal that in 2010-11 benefit-in-kind tax was paid on an estimated 950,000 company cars.

 

The latest data shows that the number of company cars on theUK’s roads has been declining year-on-year. In 2004-05 there were 1.2 million company cars on the roads, but that figure has gradually declined and dropped below one million to 970,000 in 2009-10.

 

The data also reveals that the number of employees in receipt of company paid for fuel, which is used privately has also declined. However, given the Government’s benefit-in-kind tax policy in relation to so-called ‘free’ fuel it is perhaps surprising that the figure remains so high.

 

The data reveals that in 2010-11 there were 240,000 employees paying benefit-in-kind tax on fuel, down from 270,000 in 2009-10 and reduced from 410,000 in 2004-05.

 

In relation to light commercial vehicles, just 60,000 employees paid benefit-in-kind tax on their van in 2010-11 with 40,000 employee paying benefit-in-kind tax on company funded fuel used privately.

 

Those figures compare with 300,000 employees paying benefit-in-kind tax on their van in 2004-05. The number of employees paying benefit-in-kind tax on company funded fuel used privately has remained at 40,000 in recent years, according to the data.

 


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